Brookfield bets $1 billion on green H2

NEW DELHI: Brookfield Renewable, a Canadian fund that is among the largest investors in renewable power and climate transition assets, has committed $1 billion for green hydrogen and green ammonia ventures proposed to be built in India by the Mumbai-based Avaada Group, led by Vineet Mittal.

Brookfield Renewable will invest the fund in Avaada Ventures through Brookfield Global Transition Fund (BGTF), Avaada said.

It also said that in addition to Brookfield, Global Power Synergy Public Company Ltd, will invest $68 million in Avaada Energy Pvt Ltd for releasing debt obligations and supporting growth. The group is also in advanced discussions with potential investors to raise another $200 million.
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